Best method to finance first house

[Brett Campbell]

Hello BP Naton,

I am searching for my first house here in the Fort Bragg/Fayetteville area, with the plans to buy and hold.  I have about 35k saved up and with the help of a family member My budget is up to 80k. 

My question is should I be paying cash or taking a loan out for my first purchase? I'm a newbie to REI, so with that in mind I was wondering if anybody had a advice in which path I should take.

I am not exactly sure where my credit stands because my entire life I have always paid cash for everything. So I would imagine it would be little to none. Im sure my family would co-sign on a mortage if I decide to use a loan. 

Right now I am leaning towards taking a 15 year loan, that way I can afford any repairs or hidden expenses that would come along. I should have pretty good cash flow on the home considering I will be getting paid a monthly BAH from the military, as well as having a roommate live with me. 

Thanks, 

Brett Campbell